(1)
(a) An escrow agent shall register with the department annually on or before December 31 of each year and pay a registration fee of $100.
(b) Registration of an escrow agent in accordance with this section includes all directors, officers, employees, and representatives of the escrow agent while acting in the course of the escrow agent's business.
(2) To register under this chapter an escrow agent shall provide the department:
(a) evidence satisfactory to the commissioner that the person is registered with the nationwide database;
(b) a financial statement; and
(c) any other information requested by the department.
(3) The commissioner may by rule, made in accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, provide for the transition of persons registering with the nationwide database.